Tim Hock Properties
Tim Hock Properties
Tim Hock Properties, Tim Hock PropertiesPhone: (919) 801-5151
Email: [email protected]

How to win a bidding war on your dream home

by Tim Hock Properties 04/01/2025

How to win a bidding war on your next home purchase  featured image

In a competitive housing market, home sellers are fielding numerous offers, especially in popular cities and neighborhoods. Whether you’re a first-time homebuyer or a seasoned property investor, it can be tough to make offer after offer with no success. 

However, there are key things you can do to help ensure your time house hunting for homes is well-spent and to increase your chances of getting your offer accepted. 


All-cash offer

The most effective way to increase the chances of your offer being accepted is to make it in all cash. Cash offers drastically simplify the homebuying transaction, making things easier for both parties involved.  


Waive the financing contingency

A contingency is an action needing to be completed before the contract becomes valid and the sale of a property becomes final. There are numerous contingencies found in a real estate contract; however, the most standard are for inspections, appraisals and financing.

If you intend to use a mortgage loan to purchase a home, a financing contingency protects you in case you aren’t able to secure the loan in time. In other words, you’ll be off the hook for a home you can’t pay for. 

In some special situations, a buyer may decide to waive the financing contingency, to signal to the seller there won’t be any delays regarding paying for the property.  

Letting a seller know you’re willing to drop this contingency can make your offer more appealing than competing offers, increasing the chances of your proposal being approved.  


Crafting a personal letter

Sometimes to win a bidding war, you need to get on the good side of the seller. Take the time to write them a personalized letter explaining what you love about their home and why it’s perfect for your household. 

Avoid disclosing significant changes you’ll make, as this may signal to them that you don’t appreciate all their home has to offer and may undermine some of their emotional connection to the property. 

Working closely with your real estate agent, you can implement these techniques and increase the chances of winning a bidding war.


About the Author
Author

Tim Hock Properties

It's Just Not Possible To Look For A Home In An Older "In-Town" Neighborhood Near Duke University And Not Come Across The Iconic Oval Sign For "Tim Hock Properties". Often Said To List Some Of The Most Beautiful Homes In Durham, Tim Has Turned Buying & Selling A Certain Type Of Home Into An Art Form.
 

If Asked, Tim Will Tell You, "I Have The Best Job And The Best Clients In The World, Working In A City I Know & Love, Doing What I Want To Do And Being Allowed To Always Do It Very, Very Well. Nothing Makes Me Happier Than Walking By A Former Listing And Seeing How Well The Builder's Design Decisions Have Timelessly Aged. "And, To Know I Had A Small Part Of The Final Outcome Of The Finished Product Is Very Fulfilling To Me."